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San Francisco opens District 10 Financial Empowerment Program for Bayview Residents

San Francisco opens District 10 Financial Empowerment Program for Bayview Residents

*** PRESS RELEASE ***

San Francisco opens District 10 Financial Empowerment Program for Bayview Residents

Program Will Provide Free Counseling, Capacity Building and Training

SAN FRANCISCO – The City and County of San Francisco, in partnership with the San Francisco Housing Development Corporation (SFHDC), announced the opening of District 10 Financial Empowerment Program to provide free, objective, personalized and professional hands-on financial counseling to San Francisco’s Bayview residents, at a grand opening event. The District 10 Financial Empowerment Program received seed funding from the San Francisco Foundation and Technical Assistance grants from Cities for Financial Empowerment (CFE) Fund and Bloomberg Philanthropies.

“San Francisco is a city of great opportunity but also great asset and income inequality,” said San Francisco Treasurer José Cisneros. “People are struggling; that means that government has an obligation to work even hard to assist those families in need. This important collaboration will help hard working families reduce debt, increase savings, improve their credit scores and to take control of their financial future.”

“SFHDC has a 25-year history of helping people achieve their financial goals here in District 10,” said Malia Cohen, District 10 Supervisor. “The Financial Empowerment Program will bring financial services to the Southeastern region of San Francisco to meet people where they are, support them in identifying financial goals, as well as potential obstacles and opportunities, and offer appropriate strategies, services and products to help people plan for their future.”

“The San Francisco Foundation is proud to seed the launch of the District Financial Empowerment Program, which is a testament to community resiliency, and the bold partnerships we're building in District 10," said Landon Williams, Program Director of Community Development and Investment at The San Francisco Foundation. "Community residents have long spoken of the need for financial empowerment opportunities, and we're proud to partner to make it happen and deliver on this opportunity."

SFHDC and its partners will offer menu of service and product options to residents throughout an initial two year grant period, including intensive financial counseling for 100 participants, as well as outreach efforts including a Financial Capability Summit, and a mobile financial fitness clinic consisting of a minivan (the “Financial Fitness Coach”) that will provide financial counseling throughout District 10 at a wide variety of community events.

Individuals who live in or want to return to a District 10 neighborhood (zip codes 94124, 94134, 94107), have earned income and have long term financial goals may be eligible. To learn more about the District 10 Financial Empowerment Center visit www.d10empowerment.org, email d10fepinfo@sfhdc.org or call (415) 822-1022.

About San Francisco Office of Financial Empowerment

In 2009, the City and County of San Francisco became one of only three cities in the country to launch a municipal Office of Financial Empowerment (OFE). The San Francisco OFE is housed within the Office of the Treasurer, which serves as the banker, tax collector and investment officer for the City and County of San Francisco and is led by the elected Treasurer, José Cisneros. Treasurer Cisneros believes that his role of safeguarding the city’s money should extend to all San Franciscans and he has embarked upon an ambitious financial empowerment agenda since taking office. Visit www.sfofe.org and www.sfsmartmoneynetwork.org for more information.

About The San Francisco FoundationThe San Francisco Foundation (TSFF) is the community foundation serving the Bay Area since 1948, granting more than $800 million over the past ten years. Through the generosity and vision of our donors, both past and present, TSFF granted $89 million in fiscal year 2012. TSFF brings together donors and builds on community assets through grantmaking, leveraging, public policy, advocacy, and leadership development to make a greater impact in our community. By focusing on people, organizations, neighborhoods, and policy, advocacy and organizing, the Foundation addresses community needs in the areas of community health, education, arts and culture, community development, and the environment. In response to the economic downturn, TSFF is also focusing funding on safety net partners, job creation and training, and mortgage foreclosure relief and neighborhood preservation. The San Francisco Foundation serves San Francisco, Alameda, Contra Costa, Marin, and San Mateo Counties. www.sff.org

About Bloomberg Philanthropies

Bloomberg Philanthropies’ mission is to ensure better, longer lives for the greatest number of people. The organization focuses on five key areas for creating lasting change: Public Health, Environment, Education, Government Innovation and the Arts. Bloomberg Philanthropies encompasses all of Michael R. Bloomberg’s charitable activities, including his foundation and his personal giving. In 2013, Bloomberg Philanthropies distributed $452 million. For more information on the philanthropy, please visit bloomberg.org.

About the Cities for Financial Empowerment (CFE) Fund

The CFE Fund supports municipal efforts to improve the financial stability of households by leveraging opportunities unique to local government. By translating cutting edge experience with large scale programs, research, and policy in cities of all sizes, the CFE Fund assists mayors and other local leaders to identify, develop, fund, implement, and research pilots and programs that help families build assets and make the most of their financial resources. In 2013, the CFE Fund awarded grants to Denver, Lansing, Nashville, Philadelphia, and San Antonio to replicate the proven model pioneered in New York’s Financial Empowerment Centers. Centers in these five cities have delivered over 13,000 counseling sessions, reduced more than $3.5 million in debt and built more than $525,000 in savings since March 2013. For more information, please visit www.cfefund.org.